JO-LI: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
JO-LI
Largest movements
- Tangible fixed assets -€26,541
down €26,541 (-4.1%), from €640,053 to €613,512
- Cash +€14,524
up €14,524 (+121.0%), from €12,006 to €26,530
mainly Net result for the year (+€43,307) and Depreciation (+€26,541)
- Reserves +€43,300
up €43,300 (+17.8%), from €243,210 to €286,510
- Current portion of long-term debt -€42,660
down €42,660 (-61.1%), from €69,842 to €27,182
- Debts after one year -€21,761
down €21,761 (-100.0%), from €21,761 to €0
- Trade debts -€14,317
down €14,317 (-12.6%), from €113,574 to €99,257
- Other debts +€12,753
up €12,753 (+7.0%), from €183,391 to €196,144
- Gross operating margin +€28,562
up €28,562 (+36.3%), from €78,740 to €107,302
- Financial charges +€12,046
up €12,046 (+448.4%), from €2,686 to €14,733
- Taxes +€5,798
up €5,798 (+40.1%), from €14,461 to €20,259
- Other operating charges -€1,412
down €1,412 (-36.4%), from €3,874 to €2,462
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €659,690 | €643,030 | -€16,659 | -2.5% |
| Fixed assets | 21/28 | €640,053 | €613,512 | -€26,541 | -4.1% |
| Tangible fixed assets | 22/27 | €640,053 | €613,512 | -€26,541 | -4.1% |
| Land and buildings | 22 | €640,053 | €613,512 | -€26,541 | -4.1% |
| Current assets | 29/58 | €19,637 | €29,518 | +€9,881 | +50.3% |
| Amounts receivable within one year | 40/41 | €5,960 | €0 | -€5,960 | -100.0% |
| Other amounts receivable | 41 | €5,960 | €0 | -€5,960 | -100.0% |
| Cash at bank and in hand | 54/58 | €12,006 | €26,530 | +€14,524 | +121.0% |
| Deferred charges and accrued income | 490/1 | €1,671 | €2,988 | +€1,318 | +78.9% |
| Total equity and liabilities | 10/49 | €659,690 | €643,030 | -€16,659 | -2.5% |
| Equity | 10/15 | €265,093 | €308,400 | +€43,307 | +16.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €243,210 | €286,510 | +€43,300 | +17.8% |
| Distributable reserves | 133 | €243,210 | €286,510 | +€43,300 | +17.8% |
| Profit (loss) carried forward | 14 | €1,423 | €1,430 | +€7 | +0.5% |
| Amounts payable | 17/49 | €394,597 | €334,630 | -€59,967 | -15.2% |
| Amounts payable after more than one year | 17 | €21,761 | €0 | -€21,761 | -100.0% |
| Financial debts | 170/4 | €21,761 | €0 | -€21,761 | -100.0% |
| Amounts payable within one year | 42/48 | €372,020 | €333,611 | -€38,409 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €69,842 | €27,182 | -€42,660 | -61.1% |
| Trade debts | 44 | €113,574 | €99,257 | -€14,317 | -12.6% |
| Suppliers | 440/4 | €113,574 | €99,257 | -€14,317 | -12.6% |
| Taxes, remuneration and social security | 45 | €5,213 | €11,029 | +€5,816 | +111.6% |
| Taxes | 450/3 | €5,213 | €11,029 | +€5,816 | +111.6% |
| Other amounts payable | 47/48 | €183,391 | €196,144 | +€12,753 | +7.0% |
| Accrued charges and deferred income | 492/3 | €816 | €1,019 | +€203 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,778 | €26,541 | -€237 | -0.9% |
| Other operating charges | 640/8 | €3,874 | €2,462 | -€1,412 | -36.4% |
| Gross operating margin | 9900 | €78,740 | €107,302 | +€28,562 | +36.3% |
| Operating profit (loss) | 9901 | €48,088 | €78,299 | +€30,211 | +62.8% |
| Financial charges | 65/66B | €2,686 | €14,733 | +€12,046 | +448.4% |
| Recurring financial charges | 65 | €2,686 | €14,733 | +€12,046 | +448.4% |
| Profit (loss) for the period before taxes | 9903 | €45,402 | €63,567 | +€18,164 | +40.0% |
| Income taxes | 67/77 | €14,461 | €20,259 | +€5,798 | +40.1% |
| Profit (loss) for the period | 9904 | €30,941 | €43,307 | +€12,366 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,941 | €43,307 | +€12,366 | +40.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.